Microsegmentation Market is Anticipated to Witness High Growth Owing to Rising Adoption of Connected and Autonomous Vehicles
Microsegmentation is a technology segmenting traffic flows and controlling network access based on defined criteria. It allows network administrators more control over individual users and devices on the network. Microsegmentation provides greater visibility and control to network administrators by dividing the network into small logical segments based on organizational, functional or informational criteria. This prevents lateral movement of threats between systems and enables network-based policy enforcement for traffic north-south and east-west between allowed communication points.
The benefits of microsegmentation include improved security by limiting the spread of threats, increased operational efficiency through automated policy enforcement and reduced complexity by partitioning large, flat networks. As connected and autonomous vehicles are expected to generate huge traffic and data exchange on networks, microsegmentation enables secure data transmission and access.
The Global Microsegmentation Market is estimated to be valued at US$ 2682.72 Bn in 2024 and is expected to exhibit a CAGR of 61% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Microsegmentation are AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC. These players are focusing on developing innovative microsegmentation solutions for connected vehicles.
The growing adoption of electric vehicles and autonomous driving present significant opportunities in the microsegmentation market. As vehicles generate vast amount of data that needs to be securely transmitted and accessed, microsegmentation ensures privacy and safety of vehicle networks.
North America dominates the Global Microsegmentation Market Share currently. However, Asia Pacific is expected to witness the fastest growth owing to rapid development of connectivity infrastructure and rising EV adoption in China and India. Key players are also expanding their presence across Asia and other emerging markets to tap the growth opportunities.
Market Drivers
Stringent regulations around vehicle and network security are driving the demand for microsegmentation solutions from automakers. Regulators worldwide have mandated implementation of security measures to address vulnerabilities in connected vehicles. Microsegmentation effectively addresses these regulatory concerns.
Growing connectivity of vehicles and developing technologies like Vehicle-to-Everything (V2X) communication are generating huge traffic on networks. Microsegmentation efficiently segments these networks and controls traffic flow and access for improved security and performance. This is a major growth driver for the market.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
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